Egypt Becomes Official Member of BRICS New Development Bank (NDB)

• Egypt has officially become a member of BRICS’ New Development Bank (NDB) on March 22, 2023.
• Cairo completed all the necessary procedures to become an eligible member of BRICS Bank on February 20, 2023.
• It is the fourth new country to become the member of NDB apart from BRICS nations.
• Earlier in September 2021, NDB admitted Bangladesh, United Arab Emirates (UAE) and Uruguay as its new members.

Points to Remember

1. NDB Headquarter – Shanghai, China
2. NDB President – Marcos Prado Troyjo
3. NDB formation – July 2014